Anthracite Investment Company Inc. lifted its holdings in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 58.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,000 shares of the company's stock after purchasing an additional 7,000 shares during the quarter. Flutter Entertainment comprises about 1.7% of Anthracite Investment Company Inc.'s portfolio, making the stock its 10th biggest position. Anthracite Investment Company Inc.'s holdings in Flutter Entertainment were worth $4,911,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd acquired a new position in shares of Flutter Entertainment during the fourth quarter valued at about $25,000. Farther Finance Advisors LLC lifted its position in Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the period. Raleigh Capital Management Inc. purchased a new stake in Flutter Entertainment in the fourth quarter valued at $26,000. BOCHK Asset Management Ltd acquired a new stake in Flutter Entertainment during the 4th quarter worth about $26,000. Finally, IFP Advisors Inc raised its stake in shares of Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after buying an additional 83 shares during the last quarter.
Insider Buying and Selling
In related news, CEO Amy Howe sold 11,814 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the sale, the chief executive officer now owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the transaction, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on FLUT. Stifel Nicolaus started coverage on Flutter Entertainment in a research note on Friday, January 17th. They issued a "buy" rating and a $320.00 target price on the stock. UBS Group boosted their price target on Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Needham & Company LLC raised their price objective on shares of Flutter Entertainment from $300.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. BTIG Research set a $323.00 target price on shares of Flutter Entertainment in a report on Monday, February 3rd. Finally, Barclays increased their price target on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Nineteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $311.41.
Check Out Our Latest Stock Analysis on FLUT
Flutter Entertainment Price Performance
Shares of Flutter Entertainment stock traded down $8.94 during mid-day trading on Friday, reaching $228.35. 3,312,328 shares of the stock traded hands, compared to its average volume of 1,609,239. The stock has a market capitalization of $40.53 billion and a PE ratio of 1,037.97. The business has a 50-day moving average of $261.17 and a 200 day moving average of $253.91. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.
Flutter Entertainment Company Profile
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Free Report)
Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.
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